iVEDiX, the innovative leader in digital visualization, analytics, and workflow solutions, announced today a partnership with Litum IoT to expand the current Internet of Things (IoT) and Asset Management capabilities of the iVEDiX Digital Business Platform.

The iVEDiX platform is currently being used by companies to power digital transformation strategies across a range of vertical markets including healthcare, manufacturing, oil and gas, and government. As the company looked to expand its offering, it became clear that customers across all of these markets have a need to consolidate systems and IoT devices into a single platform to drive manufacturing efficiency, monitor asset utilization, create safe working environments and better manage big data.

According to Ozgur Ulku, director of global operations for Litum IoT, “Leveraging the iVEDiX strength of interactive data visualization and immersive data discovery, and the Litum strength of edge device IoT data aggregation, together we are now in a position to help companies deliver end-to-end innovative digital solutions that utilize the benefits of IoT.”

iVEDiX was recently recognized by Aragon Research as a Contender in the Digital Business Platform market segment. The company is focusing efforts to expand capabilities in this space to provide the market a fully integrated and highly flexible digital platform that incorporates IoT and asset management capabilities. The IoT market is rapidly growing and expected to exceed 20 billion connected devices and almost $350 billion revenue in IoT hardware, software, and services by 2020. An iVEDiX customer using the platform has remarked that “this is the first time our organization has been able to consolidate multiple systems we use to manage our manufacturing plants into a single software platform. These capabilities, combined with being able to now interact with shop floor IoT devices in real-time, are helping reduce costs and streamline our operations.”